Malaysia curbs property speculation

From Themovechannel.com: Malaysia’s central bank said third-home buyers are now restricted to a maximum loan of 70% of the property’s value. The new rule, which takes effect immediately, aims to curb speculative investments in the country’s residential property market, which has seen higher-than-average price increases in some areas.
Financing for purchases of first and second homes will not be affected, Bank Negara said in a statement. First- and second-home buyers can borrow as much as 90% of the property’s value……………………………………….Full Article: Source